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Saudi Q2 awarded contracts value hits USD22.06b

07 Oct 2015

(MENAFN) The total value of awarded contracts in Saudi Arabia has increased sharply during the second quarter of 2015 to reach USD22.06 billion, marking a strong rebound from the prior quarter.

Anchor sectors snatched the majority share of spending, as the roads and residential real estate accounted for 57 percent of the total value, or USD12.65 billion, according to NCB Construction Contracts Index.

Power sector came third, with 14 percent of the value of awarded contracts. Beyond the roads and residential real estate sectors, the value of awarded contracts was varying across the remaining sectors.

Meanwhile, the NCB report said value of awarded contracts during the first six months of the year surpassed that of the same period a year ago by 13 percent, reaching USD37.3 billion.

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